Quote:
Originally Posted by GGG
In the Pre Covid months Canada was still exporting 1.5 million m^3 per month by rail. This is about 350,000 bbls / day of current demand. That’s all of line 3s excess capacity.
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True, but now that everyone has sat on their nickels for another year we've probably had a decent legacy decline in production, at least in conventional and some SAGD. 2019, no one spent money because of curtailment, 2020 had Covid shut in and plummeting rig count. We've had two years where we either cut back or didn't spend enough to really sustain the maximum capacity. There's also some shut in bottom tier SAGD that I'm skeptical get turned back on or will decline into nothing.